Home / Business and Economy / Talen Energy Boosts Buyback to $3 Billion, Names New CEO
Talen Energy Boosts Buyback to $3 Billion, Names New CEO
30 Sep
Summary
- Terry Nutt appointed CEO effective January 1, 2027.
- Share repurchase authorization increased to $3 billion through 2028.
- Current CEO Mac McFarland to retire in March 2027 after advisory role.
Talen Energy announced a significant leadership change, naming Terry Nutt as its next chief executive officer. This transition will take effect on January 1, 2027.
Nutt, who has been serving as the company's president since December and previously held the position of chief financial officer, will also join the company's board upon assuming the CEO role.
Mac McFarland, the current CEO, will continue in his role and on the board until December 31, 2026. Following this, he will serve as a senior adviser until his planned retirement in March 2027.
In addition to the leadership update, Talen Energy substantially increased its share repurchase authorization to $3 billion, extending through 2028. The company has also initiated $1.5 billion in accelerated share repurchase agreements, which are expected to repurchase more than 10% of its outstanding shares.
